2 Nov 2016

Big surge in global dairy prices overnight

From Morning Report, 7:09 am on 2 November 2016

Farmers welcome 20 percent jump in whole milk prices in the overnight global dairy trade auction - it's now at its highest in more than two years and has broken through the magic US$3,000 a tonne barrier. AgriHQ senior dairy analyst Susan Kilsby says lower volumes have driven latest spike in auction prices. Fonterra welcomes the rise but chairman John Wilson says it's too early to promise farmers a higher return.